Smith, who has served the credit union industry for some 30 years and the Live Oak, Texas-based credit union since 1982, will serve as a senior adviser to the board of directors.

Current President Christopher W. O’Connor has also been tapped to succeed Smith as CEO.

Prior to joining RBFCU, Smith’s career included work in public accounting and 27 years of service with the U.S. Air Force (active duty and reserve).

Under his leadership, since being named president/CEO in 1987, RBFCU has grown from $290 million with five branches to serving more than 410,000 members with more than $5 billion in assets and a branch network that includes more than 40 locations throughout the South Central Texas area, including multiple branches in the San Antonio and Austin metropolitan areas.

During his tenure, the credit union has also launched such innovative products, as the Freedom Check Card, which pays members 10 cents cash back on every debit card purchase. Over the past five years, the Freedom Check Card program has returned more than $22 million to members.

In addition to his work on behalf of RBFCU, Smith has served as an advisor to the Federal Reserve Board on the Thrift Institutions Advisory Council and the Community Depository Institutions Advisory Council. He currently serves on the board of directors for CUNA Mutual Group and for NAFCU.